Nigeria’s mobile app market worth over $1bn —Osamede

LAGOS—The Nigerian mobile application market was yesterday valued at over a $1 billion (N160 billion) and also viewed as capable of addressing the unemployment challenges in the country.

Speaking during a visit to Corporate Headquaters of Vanguard Newspapers, ahead of its Mobile Apps summit, scheduled to hold in Lagos, Mr. Umweni Osamede, Managing Director, 70th Precint Limited, said Nigeria’s mobile apps market was a multi-billion dollar market and if properly harnessed could position the country among the leading economies in the world.

His words: “With a population of about 160 million people and less than 21 per cent smart phones penetration, the potential of the Nigeria application market is enormous. The mobile application market is a huge revenue earner, especially as companies are today, putting a large chunk of their advertising spend on digital media.”

He explained that if encouraged and supported, application developers would position Nigeria to tap from the about $50 billion global mobile application market.